Even with Congress’ proposed economic stimulus package, which could drive tens of billions of dollars to construction equipment sales and extend tax benefits, financial help provided by the government will come too late to boost this year’s economy, industry observers say. For that reason, capital-goods suppliers are already prepared to write off 2009 as a dismal year and are looking ahead to 2010.
“I think any kind of turnaround is going to be slow,” says Rich Carlson, vice president of Minnesota-based Carlson Tractor and Equipment Co. His company had a poor 2008, and 2009 is not looking so good, either. “I think the hope is that it doesn’t get any worse,” he adds.